HR 917
119th Congress
House
Taxation
Mortgage Debt Tax Forgiveness Act of 2025
Introduced: February 4, 2025
Introduced by:
Brownley, Julia
Democratic
· California
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 4, 2025
Referred to the House Committee on Ways and Means.
Feb 4, 2025
Introduced in House
Plain-English summary
Mortgage Debt Tax Forgiveness Act of 2025
This bill makes permanent the exclusion of the discharge of qualified principal residence indebtedness from gross income for federal tax purposes.
Under current law, a taxpayer may generally exclude from gross income up to $750,000 (or $375,000 if married but filing a separate federal tax return) from the discharge of indebtedness that is (1) incurred to purchase, build, or substantially improve a principal residence (or refinance such indebtedness); and (2) secured by the principal residence. The discharge must currently occur before January 1, 2026, and some limitations apply.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1